A Merchant Banker possessing a valid SEBI registration in accordance with the SEBI (Merchant Bankers) Regulations, 1992 is eligible to act as a Book Running Lead Manager to an issue.
In the pre-issue process, the Lead Manager (LM) takes up the due diligence of company's operations/ management/ business plans/ legal etc. Other activities of the LM include drafting and design of Offer documents, Prospectus, statutory advertisements and memorandum containing salient features of the Prospectus. The BRLMs shall ensure compliance with stipulated requirements and completion of prescribed formalities with the Stock Exchanges, RoC and SEBI including finalisation of Prospectus and RoC filing. Appointment of other intermediaries viz., Registrar(s), Printers, Advertising Agency and Bankers to the Offer is also included in the pre-issue processes. The LM also draws up the various marketing strategies for the issue.
The post issue activities including management of escrow accounts, coordinate non-institutional allocation, intimation of allocation and dispatch of refunds to bidders etc are performed by the LM. The post Offer activities for the Offer will involve essential follow-up steps, which include the finalisation of trading and dealing of instruments and dispatch of certificates and demat of delivery of shares, with the various agencies connected with the work such as the Registrar(s) to the Offer and Bankers to the Offer and the bank handling refund business. The merchant banker shall be responsible for ensuring that these agencies fulfill their functions and enable it to discharge this responsibility through suitable agreements with the Company.
For list of Merchant Bankers to Past PSU Public Offers, send email to email@example.com
Click here for the directory of SEBI-approved Merchant Bankers.
For League Tables of Bookrunning Lead Managers/Lead Managers, send email to firstname.lastname@example.org.
The Book Runner(s) may appoint those intermediaries who are registered with the Board and who are permitted to carry on activity as an 'Underwriter' as syndicate members. The syndicate members are mainly appointed to collect and entire the bid forms in a book built issue.
For League Tables of Syndicate Members, send email to email@example.com.
The Registrar finalizes the list of eligible allottees after deleting the invalid applications and ensures that the corporate action for crediting of shares to the demat accounts of the applicants is done and the dispatch of refund orders to those applicable are sent. The Lead manager coordinates with the Registrar to ensure follow up so that that the flow of applications from collecting bank branches, processing of the applications and other matters till the basis of allotment is finalized, dispatch security certificates and refund orders completed and securities listed.
Click here for the directory of SEBI-approved Registrars.
For League Tables of Registrars, send email to firstname.lastname@example.org.
Bankers to the
Bankers to the issue, as the name suggests, carries out all the activities of ensuring that the funds are collected and transferred to the Escrow accounts. The Lead Merchant Banker shall ensure that Bankers to the Issue are appointed in all the mandatory collection centers as specified in SEBI ICDR Regulations 2009. The LM also ensures follow-up with bankers to the issue to get quick estimates of collection and advising the issuer about closure of the issue, based on the correct figures.
Some of the Bankers have joined the new ASBA process
For League Tables of Bankers, send email to email@example.com.
Issue Stationery Printers
These are firms that specialize in printing of issue stationery-offer documents, abridged prospectuses and application forms, and in subsequently dispatching these to the designated points.
Click here for the directory of Issue Stationery Printers.
For League Tables of Issue Stationery Printers, send email to firstname.lastname@example.org.
IPO grading has been made mandatory by SEBI as an endeavor to make additional information available for the investors in order to facilitate their assessment of equity issues offered through an IPO. IPO grades are assigned by a Credit Rating Agency registered with SEBI.
Click here for the directory of IPO Grading Agencies.
For League Tables of IPO Grading Agencies, send email to email@example.com.